PLATELET CONCENTRATION SYSTEMS MARKET ANALYSIS

The Global Platelet Concentration Systems Market size is expected to reach US$ 838.4 Mn by 2030, from US$ 424.9 Mn in 2023, at a CAGR of 10.2% during the forecast period. Platelet-rich plasma (PRP) is a non-surgical alternative to cure areas such as orthopedics, sports medicine, dentistry, ear, nose and throat (ENT), neurosurgery, ophthalmology, urology, and wound healing as well as cosmetic, cardiothoracic, and maxillofacial surgery. PRP is an autologous biologic derived from whole blood that is preferentially enriched with platelets and growth factors. It is a commonly used to accelerate the healing of injured tendons, ligaments, muscles, and joints.

While platelets are the primary component of PRP, preparations may also contain other cellular components such as white blood cells (WBCs) and peripheral stem cells. These components play a biological role in the healing process and are provided at concentrated levels in PRP. Thus, PRP may help optimize the conditions for healing of bone and soft tissue.

Global Platelet Concentration Systems Market Regional Insights

• North America is expected to be the largest market for platelet concentration systems during the forecast period, which accounted for over 40.3% of the market share in 2023. The growth of the market in North America is attributed to the large spending on research and development activities by both private companies.
• Europe is expected to be the second-largest market for platelet concentration systems, which accounted for over 30.4% of the market share in 2023. The growth of the market in Europe is attributed to the rising healthcare expenditure and the presence of key players in the region.
• Asia Pacific is expected to be the fastest-growing market for platelet concentration systems, growing at a CAGR of over 18.9% during the forecast period. The growth of the market in Asia Pacific is attributed to growing advancements in the platelet concentration systems, thus making it affordable to domestic customers.

Figure 1. Global Platelet Concentration Systems Market Share (%), by Region, 2023

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Analyst’s Views:

The platelet concentration systems market is poised to experience steady growth in the coming years. The rising prevalence of blood disorders and increasing number of trauma and surgical cases are some of the key drivers fueling the demand for platelets and platelet concentrates. Additionally, growing awareness about the therapeutic applications of platelet-rich plasma is also supporting market expansion. However, stringent regulatory frameworks for hemostatic agents may slightly inhibit market progression.

North America dominates the platelet concentration systems market currently due to the rising adoption of advanced hemostatic products and well-established healthcare infrastructure in the region. Within the region, the U.S. holds the highest market share. Europe is also a major revenue generator owing to the increasing healthcare spending and government support for novel medical technologies. On the other hand, Asia Pacific is likely to witness the fastest growth during the forecast period. This can be attributed to the growing medical tourism industry, rising healthcare expenditure, and improving access to modern healthcare facilities in emerging countries of China and India.

Overall, continuous technological advancements to enhance the functionality and versatility of platelet concentration devices, and increasing focus on effective hemostatic management during surgical procedures will create numerous opportunities for market players. However, they must overcome regulatory challenges and evaluate cost-effective solutions to sustain their foothold in this dynamic market arena.

Global Platelet Concentration Systems Market Drivers:

• Increasing prevalence of target diseases: According to the World Health Organization (WHO), musculoskeletal conditions are the leading cause of disability worldwide with over 1.7 billion people suffering from musculoskeletal conditions. The number of people affected by such conditions is rising rapidly mainly due to aging population and rising obesity levels caused by sedentary lifestyles and unhealthy diets. Similarly, traumatic brain injuries are also on the rise. According to the Centers for Disease Control and Prevention (CDC), it is estimated that every year there are over 2.8 million TBI related emergency department visits, hospitalizations, and deaths in the U.S. alone. Platelet rich plasma therapy has proven effective in speeding up the healing of musculoskeletal injuries and treating neurological conditions like mild TBI and aids in tissue regeneration.
• Rising demand for platelet-rich plasma therapy: The demand for platelet-rich plasma therapy has been steadily increasing over the past few years owing to its potential therapeutic benefits. Platelet-rich plasma therapy involves concentrating platelets from a patient's own blood and injecting it in the injured or problem areas to speed up the healing process. It is increasingly being used for treating orthopedic conditions like tendinopathy, ligament sprains, muscle strains, and joint injuries. Various clinical studies have demonstrated the effectiveness of platelet-rich plasma for refractory tendinopathy, knee osteoarthritis and chronic plantar fasciitis among other uses. For instance, according to the study published in 2020 in Journal of American Academy of Orthopedic Surgeons found that the platelet-rich plasma injections to be effective in improving function and reducing pain in athletes with chronic elbow injuries. Another study published in Sports Health journal in 2021 reported that platelet-rich plasma can help reduce symptoms and improve function in athletes with chronic hamstring injuries. The promising results from such studies have helped drive awareness and adoption of the therapy among orthopedic surgeons and sports medicine physicians.
• Increasing adoption of platelet concentration systems in hospitals and surgical centers: The rising demand for platelet concentration systems in hospitals and surgical centers is a significant factor contributing to the growth of the platelet concentration systems market. Platelet-rich plasma (PRP) therapy has gained widespread acceptance in various medical applications such as orthopedics, dentistry, dermatology, and sport medicine in recent times. PRP is derived from platelet concentration systems, which separate and concentrate platelets from whole blood. PRPs deliver a high concentration of autologous platelets and growth factors to injured or damaged tissues for faster healing. They are utilized for treating various orthopedic conditions like arthritis, tendonitis, and ligament injuries. PRP injections help reduce pain and inflammation, and improve the regeneration of connective tissues. Many clinical studies have demonstrated PRPs' effectiveness in accelerating tissue healing and recovery from injuries. For example, a randomized controlled trial published in 2021 found that PRP therapy after arthroscopic rotator cuff repair surgery led to significant improvements in shoulder function and healing rates compared to controls without PRP.
• Technological advancements in platelet concentration systems: Technological advancements in the field of platelet concentration have enabled significant improvements in platelet-rich plasma therapy. Platelet concentration systems now allow for accurate and rapid concentration of platelets from a patient's own blood in an automated, hassle-free manner. This has increased the acceptance of platelet-rich plasma therapy among healthcare professionals by standardizing the preparation process. Fully-automated, next-generation systems streamline the process further by concentrating platelets to a consistent, standardized level with minimal hands-on time. This boosts the efficiency and reproducibility of platelet-rich plasma therapy. Such devices are easy to use by medical practitioners and technicians with minimal training. With their ability to simplify delivery of an advanced treatment option, advanced platelet concentration systems are finding increased acceptance in medical settings ranging from orthopedics clinics to ambulatory surgical centers.
• Growing number of orthopedic and sports injuries: The rising incidence of orthopedic and sports injuries has been a major factor contributing to the growth of the platelet concentration systems market. With people increasingly participating in active recreational sports and physical activities, the risks of injuries such as muscle tears, ligament ruptures, and bone fractures have gone up significantly. According to data from the Centers for Disease Control and Prevention (CDC), over 3.5 million sports and recreation-related injuries are reported annually in the U.S. alone requiring medical care. Sports such as football, basketball, and soccer that involve a lot of jumping, running, and physical contact put athletes at higher risk of such injuries. Additionally, an aging population profile with more people taking part in more risky activities has led to increased joint wear-and-tear and orthopedic issues like arthritis that may need surgical interventions.

Global Platelet Concentration Systems Market Opportunities:

• Emerging markets in Asia Pacific and Latin America: The platelet concentration systems market in emerging economies in Asia Pacific and Latin America provide vast growth opportunities owing to rising healthcare expenditures and increasing awareness about blood disorders treatment in these regions. Countries like India, China, Indonesia, and Brazil have a huge patient population suffering from blood cancer, cardiac diseases, and orthopedic disorders where platelet rich plasma therapy is effective. With economic growth and expansion of private healthcare facilities, more patients now have access to advanced treatment options including platelet concentration systems in these developing nations. This has significantly increased the demand for automated platelet separators, accessories and consumables in recent years. As per World Bank data, healthcare spends as a percentage of GDP has witnessed a steady rise in most Asia Pacific and Latin American developing countries between 2020 and 2022. This trend is expected to continue in the coming years. With greater financial resources being allocated for modern medical devices, hospitals and clinics in emerging markets are inclined to invest in state-of-the-art platelet concentration technologies instead of manual methods. This improves treatment outcomes and efficiency of healthcare practitioners.
• Increasing applications of PRP therapy: Platelet-rich plasma (PRP) therapy has tremendous potential to become a mainstream treatment option across various therapeutic areas in the coming years. PRP utilizes a concentration of platelets extracted from a patient's own blood which helps in tissue regeneration and healing. The mechanism involves the release of growth factors from the platelets that stimulate and accelerate the healing cascade. As research continues to demonstrate PRP's efficacy in multiple clinical applications, its use is bound to gain widespread acceptance. Currently, PRP is being used beneficially for orthopedic conditions like tendinopathy and osteoarthritis. Studies show PRP injections reduced pain and improved function in patients with knee osteoarthritis that were unresponsive to other treatments. Similar success has been found in treating chronic tendon and ligament injuries in sports medicine. As professionals and amateur athletes are always in search of recovering faster from injuries without surgery, PRP provides a minimally invasive solution.
• New product launches: New product launches that offer innovative features and improved functionality present a significant opportunity for growth in the platelet concentration systems market. As medicine continues advancing, there is growing demand for technologies that can efficiently process blood components and concentrate platelets which are crucial for preventing bleeding during surgeries and treating various platelet disorders. Platelet-rich plasma therapies are also gaining popularity worldwide for regenerative and sports medicine applications. Manufacturers who can launch systems that offer enhanced platelet yields, reduced processing steps, greater portability and are fully-automated will be well positioned to capture more market share. Several companies are investing heavily in R&D to develop new and upgraded products. For example, companies are working on designs that integrate cell separation and platelet concentration in a single closed system without intermediate manual steps. This would help maximize platelet recovery while minimizing contamination risks. Others are miniaturizing equipment to develop personal or point-of-care platelet concentration devices that can be used in ambulatory surgical centers and physiotherapist clinics. Enabling more localized production and application of platelet therapies could significantly expand access to care and bolster demand.

Global Platelet Concentration Systems Market Trends:

• Increasing preference for automated platelet concentration systems: The preference for automated platelet concentration systems has been steadily increasing among blood banks and hospitals in recent years. This shift towards automation is being driven by the need for higher productivity and standardized results. Automated systems allow for standardization of the entire platelet separation and concentration process from start to finish. They minimize human errors and ensure consistency in product quality by reducing manual interventions. This is important considering platelets must be processed within a strict timeframe and even small inconsistencies can impact patient outcomes. Automated systems also boost production capacities of blood centers. They can process blood donations faster than manual methods, thereby increasing the number of platelet units prepared every day. For example, according to a 2022 report by the American Red Cross, their newest automated blood processing equipment helped increase platelet production by nearly 30% compared to earlier methods. This higher output is valuable as there is always high demand for platelet transfusions from cancer patients and those undergoing complex surgeries and transplants. The productivity gains allow blood banks to meet the needs of more patients.
• Adoption of advanced technologies like centrifugation: The adoption of advanced technologies in platelet concentration systems is having a significant impact on the platelet concentration systems market. Systems that utilize advanced centrifugation techniques are able to process blood plasma much faster and more efficiently than older generation systems. This allows blood collection centers and hospitals to increase their platelet collection capacity without needing to invest in numerous older machines. For example, a modern system that uses progressive segmentation technology can process up to 6 blood donations simultaneously in 30 minutes, whereas older machines may take 1-2 hours for the same number of donations. This higher throughput is appealing to blood banks as it lets them meet the growing demand for platelet transfusions from an aging population with fewer resources. Data from the American Red Cross shows that nearly 28,000 platelet doses are needed every day to treat patients in the U.S., and the demand is expected to increase up to 5% annually over the next decade. Advanced centrifugation technologies help address this demand growth without requiring a proportional increase in facilities and staffing. The ability to extract more platelets faster from each donation also increases the overall yield, allowing valuable resources to be stretched further.
• Membrane separation filters: Membrane separation filters are having a major influence on the platelet concentration systems market. Platelet concentration systems based on membrane separation technology are becoming increasingly popular compared to traditional centrifugation based systems. Membrane separation allows for an easier, more automated process of separating platelets from other blood components without using high speeds. This helps obtain a purer platelet concentrate with higher cell counts. Membrane filtration techniques are able to better maintain the integrity and functionality of the platelets compared to centrifugation. Studies show platelets separated through membranes have higher levels of growth factors and clotting ability. This improves their therapeutic efficacy for indications like bone healing and wound repair. The membrane process is also gentler on the platelets and does not cause the same degree of platelet activation and aggregation seen with centrifugation. Activated platelets are known to have a shorter shelf life. Better preservation of platelet properties is extending the shelf life of membrane derived platelet concentrates.

Global Platelet Concentration Systems Market Restraints:

• High cost associated with platelet concentration procedures: The high cost associated with platelet concentration procedures is one of the major factors restraining the growth of the platelet concentration systems market. Platelet concentration procedures involve sophisticated medical devices and equipment that concentrate platelet-rich plasma (PRP) from a patient's own blood. This concentration process is conducted to obtain a high density of platelets that is then injected or applied to the injury site to expedite the healing process. However, the specialized medical devices, equipment and other disposables required to perform these procedures come at a very high price. For example, a basic platelet concentration system that concentrates PRP from blood typically costs between US$ 10,000 to US$ 15,000 without disposables. Then each platelet concentration procedure requires single-use disposable kits that range from US$ 300 to US$ 500 depending on the system used. Additionally, more advanced platelet concentration technologies that provide leukocyte reduction or endothelial cell/progenitor cell concentration come with system prices upwards of US$ 25,000. When accounting for all direct material costs of the concentration device/kit as well as facility costs like clinicians' time and lab space, a typical PRP procedure averages US$ 1,000 to US$ 1,500 per patient in the U.S.
• Stringent regulatory frameworks: Stringent regulatory frameworks across various regions are placing constraints on the growth of the platelet concentration systems market. Platelet-rich plasma therapy is considered a biological product in many countries, which subjects it to extensive regulation by authorities like the U.S. Food and Drug Administration (FDA) in the U.S. and European Medicines Agency (EMA) in Europe. Medical device manufacturers need to comply with design control requirements, obtain marketing authorization, and adhere to Quality Management System standards like ISO 13485 for manufacturing platelet concentration systems. This regulatory approval process is lengthy and expensive, acting as a barrier for new market entrants. Obtaining marketing approval can take 2-3 years and involves clinical trials to prove the safety and efficacy of PRP therapy for different applications. The COVID-19 pandemic further delayed many ongoing trials and product launches from 2020-2021. Establishing robust clinical data as per regulatory standards is crucial given PRP is a minimally manipulated biological product with unknown long term effects. However, the risk-based classification of devices also depends on the intended use, leading to variations in regulatory pathways across regions. For example, PRP therapy for musculoskeletal conditions are regulated less stringently compared to other applications in the European Union (EU) and the U.S.
• Lack of reimbursement policies: Many private insurance plans do not cover the entire cost of PRP therapy and the out-of-pocket costs for patients can be high, sometimes in thousands of dollars. This price point prevents millions of patients from opting for PRP even when recommended by their physicians. According to a 2021 survey by the U.S. Centers for Disease Control and Prevention, around 16% of American adults reported not visiting a doctor in the past year due to financial barriers. High medical costs remain one of the leading causes of personal bankruptcy in the country. Without proper insurance coverage and favorable reimbursement guidelines, platelet concentration systems cannot gain widespread adoption in the U.S. healthcare industry. In countries with public healthcare models, limited funding for new medical technologies also affect the growth prospects. For instance, in the U.K., the state-run National Health Service is currently not covering the costs of PRP therapy using platelet concentration systems for most applications. This has deterred many orthopedic clinics and hospitals from investing in new equipment. According to a 2020 report by The King's Fund, an independent charity working to improve health and care in England, escalating healthcare costs combined with budget deficits were posing serious challenges to the sustainability of the public system. Unfavorable funding decisions negatively impact the uptake of novel treatments from sectors like regenerative medicine.

Recent Developments

New product launches

• In 2021, Royal Biologics, an ortho-biologics company focused on autologous and live cellular solutions, announced the U.S. FDA 510K approval of its Maxx-PRP concentration system. Maxx-PRP is a patented next-generation concentration device that can be used to concentrate autologous whole blood for the safe and rapid preparation of platelet-rich plasma to use point of care for mixing with autograft and/or allograft to improve handling characteristics.
• In 2018, APEX Biologix launched a new XCELL PRP system. The XCELL PRP system has a specialized concentrating device that helps to shorten the total processing time and reduce human error compared to other systems.
• In August 2019, Healeon Medical, Inc., a wholly owned subsidiary of Bimini Health Tech, commercial-stage medical device and biologics company, received the U.S. FDA 510 (K) clearance approval for its Healeon Duet (BK200449), a novel blood separation system for platelet rich plasma (PRP) preparation

Acquisition and partnerships

• In October 2018, Arthrex Inc., a global medical device company, built a new state-of-the-art surgical device and implant manufacturing facility in Anderson County, South Carolina, U.S This investment is a part of Arthrex’s global expansion plan to support the development of new and innovative products that help surgeons treat their patients better.

Figure 2. Global Platelet Concentration Systems Market Share (%), by Technology, 2023

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Top Companies in the Global Platelet Concentration Systems Market

• Anthrax Inc.
• Stryker Corporation
• Johnson & Johnson’s
• Zimmer Biomet Holdings Inc.
• Terumo Corporation
• Arteriocyte Medical Systems, Inc.
• Exactech Inc.
• Harvest Technologies Corp.
• Nuo Therapeutics, Inc.
• Haemonetics Corporation
• Fresenius SE & Co. KGaA
• Macopharma
• BioIVT
• Stago
• Pall Corporation

Definition: Platelet concentration systems are increasingly being used across healthcare facilities to concentrate platelets collected from blood donors into a smaller volume of plasma. This process of platelet concentration helps to maximize the number of platelet transfusions that can be prepared from a single blood collection, thus meeting the high demand for blood products. With rising prevalence of diseases like cancer that often require platelet transfusions, the need for platelet concentration is surging globally.